Bilateral Trade Agreements and the Rise of Global Supply Chains in the Modern International Business

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Bilateral Trade Agreements and the Rise of Global Supply Chains in the Modern International Business

July 30, 2022 BUSINESS & ECONOMICS 0

The article’s main goal is to demonstrate the growing significance of bilateral trade agreements in foreign trade policy and the development of global supply chains in contemporary global commerce. The topic of discussion and theoretical contribution in the study program being conducted is new trends in global business, namely the growing significance of bilateral agreements in foreign trade policy. It is critical to emphasize that a small number of multinational corporations control a sizable portion of global trade and the development of global supply chains. On the one hand, in order to reduce trade costs, these companies should encourage regulatory harmonization among various Preferential Trade Agreements (PTAs). However, they may also oppose harmonization and support certain non-tariff measures in an effort to keep new competitors out of certain areas. This may help to partially explain why regulatory divergence persists and indicates that the political economy of regulatory convergence, particularly in light of the expanding global supply chains, may be more nuanced than is frequently assumed.

Author(s) Details:

Zdzisław  W.  Puślecki,
Adam Mickiewicz University, Poznań ul. Uniwersytetu Poznanskiego, 561-614, Poznań, Poland.

Please see the link here: https://stm.bookpi.org/CABEF-V2/article/view/7641

Keywords: Foreign trade policy, bilateral trade agreement, global supply chains, anti-protectionist forces, cooperating on trade policies

 

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